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SAMPLE SYLLABUS – SUBJECT TO CHANGE

ECON-UA9238L02 International

NYU London

Instructor Information ● Professor Jyoti Saraswati ● Office hours – after class or by appointment

Course Information ● Monday 9am-12pm ● Room TBC Prerequisites: ECI-UF 9101 – Economic Principles I/ ECI-UF 9102 – Economics Principles II. Basic calculus and microeconomic knowledge. In particular, concepts, structures, particularly imperfect . Basic knowledge of is helpful although not necessary.

Course Overview and Goals The course develops a systematic understanding of the key areas of the world – , and finance – and how they impact on each other. Theory will be applied to international economic events, issues and trends. As the international economic environment is dynamic in nature and is impacted by real world developments in , politics and finance, the course coverage is updated periodically to include current real world evidence as well as recent academic and empirical findings. As such, during the semester topics to be analyzed include Brexit (Britain’s exit from the European Union), the Greek Debt Crisis, and the waning power of OPEC.

Upon Completion of this Course, students will be able to: • Understand and critically evaluate the interrelationship between the three main areas of international economic activity - trade, finance and investment. • Gain a good working knowledge of the international economic environment and recognize the linkages between political, diplomatic and financial developments and their impact on . • Apply the various theoretical aspects of the principles of finance and economics in an international context. • Recognize the main issues faced by developing countries, in particular debt burdens and aid traps. • Gain a good working knowledge of the operations and key issues surrounding cross-border movements of labor and , the size and direction of trade flows, and the global economic institutions. • Provide policy solutions to economic problems by integrating relevant theory with empirical evidence and historical knowledge.

And, more generally, students should have developed a number of skills, including an ability to:

. Articulate cogent, coherent arguments supported by facts and figures. . Use inductive and deductive reasoning and lateral and critical thinking to solve problems. . Critically assess and interpret contemporary and emergent issues in the global economy. . Work independently, displaying individual initiative and self-. . Work in pairs and groups, building team and delegation skills.

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SAMPLE SYLLABUS – SUBJECT TO CHANGE

Course Requirements

Grading of Assignments The grade for this course will be determined according to these assessment components: % of Assignments/Activitie Description of Assignment Final Due s Grade Mid-term Exam Take-home 20%

Final Exam In-class closed book 30%

Excursion Worksheet Excursion-related Questions 10%

Research Paper Written Assignment (20%) and Presentation (10%) 30%

Class Participation Inc. Punctuality and Class Conduct 10%

Failure to submit or fulfill any required course component results in failure of the class

Grades: Letter grades for the entire course will be assigned as follows:

Letter Grade Percent Description

Excellent understanding of theory and evidence of clear thought in topics related to international economics. Students in this range will also have the capability to A Example: 93.5% and higher elaborate their own thinking and opinions about the methods covered in the module.

Very good understanding of the theory and of the different possible applications of the models studied to real life B Example: 82.5% - 87.49% problems.

Good command of the material covered without complete understanding of the relations between different theories C Example: 72.5% - 77.49% and of their applications to real life issues related to the topic.

Evidence of effort and of some understanding of the topic. Students in this range will typically show a mechanical understanding of the material without the capability to D Example: 62.5% - 67.49 extend this knowledge to similar methodologies and to relate concepts.

Incorrect or null understanding of the theories and/or F Example: 59.99% and lower models covered in the module.

Course Materials

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SAMPLE SYLLABUS – SUBJECT TO CHANGE

Required Textbooks & Materials Yarbrough, B.V. and R.M. Yarbrough. 2013a. The World Economy: (7th ed.). ISBN: 1489538062 Available online.

Yarbrough, B.V. and R.M. Yarbrough. 2013b. The World Economy: Open Economy Macroeconomics and Finance (7th ed.). ISBN: 1489538135 Available online.

Optional Textbooks & Materials Salvatore, D. 2010. International Economics (10th ed.). John Wiley & Sons. ISBN:978-0-470-50582-3 Krugman, P.R. and M. Obstfeld. 2010. International Economics. Theory and Policy (8th ed.). Pearson, Addison Wesley Publishers. ISBN-10: 0-321-55398-5

Other sources include the , , Peterson Institute for International Economics, Financial Times, Bank of England, Federal Reserve, IMF, OECD, The , Eurostat, Datastream, UNComtrade, Academic Journals in the field of International Economics

Resources ● Access your course materials: NYU Classes (nyu.edu/its/classes) ● Databases, journal articles, and more: Bobst Library (library.nyu.edu) ● NYUL Library Collection: Senate House Library (catalogue.libraries.london.ac.uk) ● Assistance with strengthening your writing: NYU Writing Center (nyu.mywconline.com) ● Obtain 24/7 technology assistance: IT Help Desk (nyu.edu/it/servicedesk)

Course Schedule

Assignment Session/Date Topic Reading Due

Session 1: Introduction

Chapter 1 in Yarbrough and Yarbrough (2013a) Session 2: Economic Systems

Chapter 1 in Yarbrough and Yarbrough (2013a) Session 3: and

Theories and Models of Chapters 5-9 in Yarbrough and Yarbrough (2013a) Session 4: International Trade Trade Pacts and Chapters 5-9 in Yarbrough and Yarbrough (2013a) Mid-term Session 5: Policies Exam Set Brexit and the Future of External Lecture at the Museum of London 6-7pm with Mid-term Session 6: Britain debriefing afterwards Exam Due Chapters 10-11 in Yarbrough and Yarbrough (2013a) Foreign Direct Session 7: Investment Chapters 10-11 in Yarbrough and Yarbrough (2013a) Session 8: Economic Migration

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SAMPLE SYLLABUS – SUBJECT TO CHANGE

Assignment Session/Date Topic Reading Due Excursion City of London Session 9: Meet in class at 8.45am for pre-excursion lecture Worksheet Excursion Provided Chapter 15 in Yarbrough and Yarbrough (2013b) Excursion Session 10: Financial Systems Worksheet

Due Chapter 15 in Yarbrough and Yarbrough (2013b) Session 11: Financial Crises

Session 12: Presentations AM

Session 13: Presentations PM

Session 14: Review and Revision

Research Final Assessment: Exam Paper Due

Co-Curricular Activities • Required City of London excursion in Session 9. Meet at NYU (usual day and classroom but we will meet slightly earlier – 845am, to give us time to complete the excursion by midday) for a pre-lecture briefing followed by walk to and through the City of London. Walkable from NYU London so no travel costs are necessary • Both the London School of Economics (LSE) and the School of Oriental and African Studies (SOAS) provide an excellent array of talks and lectures on issues related to international economics/ by esteemed scholars, journalists, politicians and thinkers each week. They are usually open to the public and free of charge. Students are recommended to try and attend one such talk a week. A list of such talks can be found at each school’s website – www.lse.ac.uk/ www.soas.ac.uk.

Classroom Etiquette Punctuality No use of laptops in class No use of mobile phones in class No eating in class

NYUL Academic Policies

Attendance and Tardiness • Key information on NYU London’s absence policy, how to report absences, and what kinds of absences can be excused can be found on our website (http://www.nyu.edu/london/academics/attendance-policy.html)

Assignments, Plagiarism, and Late Work

• You can find details on these topics and more on this section of our NYUL website (https://www.nyu.edu/london/academics/academic-policies.html) and on the Policies and Procedures section of the NYU website for students studying away at global sites (https://www.nyu.edu/academics/studying-

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SAMPLE SYLLABUS – SUBJECT TO CHANGE

abroad/upperclassmen-semester-academic-year-study-away/academic-resources/policies-and- procedures.html).

Classroom Conduct Academic communities exist to facilitate the process of acquiring and exchanging knowledge and understanding, to enhance the personal and intellectual development of its members, and to advance the of society. Essential to this mission is that all members of the University Community are safe and free to engage in a civil process of teaching and learning through their experiences both inside and outside the classroom. Accordingly, no student should engage in any form of behaviour that interferes with the academic or educational process, compromises the personal safety or well-being of another, or disrupts the administration of University programs or services. Please refer to the NYU Disruptive Student Behavior Policy for examples of disruptive behavior and guidelines for response and enforcement.

Disability Disclosure Statement Academic accommodations are available for students with disabilities. Please contact the Moses Center for Students with Disabilities (212-998-4980 or [email protected]) for further information. Students who are requesting academic accommodations are advised to reach out to the Moses Center as early as possible in the semester for assistance.

Instructor Bio

Dr Jyoti Saraswati is an international economist who has just completed an 18 month project with the Japan External Trade Organization (JETRO), an agency of the Japanese Ministry of Economy, Trade and Industry, evaluating the degree of industrialization, level of technological sophistication and potential for competition and synergy across key sectors in Asia’s four leading (Japan, China, India, South Korea). The project’s findings have recently been published as a book – Varieties and Alternatives of Catching-up: Asian Development in the Context of the 21st Century (Palgrave Macmillan, 2016). Previous clients of Dr Saraswati include the European Commission, for whom he advised on Indo-European trade and investment relations, and the World Bank, where he was responsible for assessing the viability and impact of localized development projects in Southeast Asia. Related, Dr Saraswati’s research interests are primarily focused on the political economy of emerging markets in Asia, particularly as it pertains to capital formation in and the emergence of transnational corporations from India and China. Other areas of research include the political economy of migration, regional and the economic dimensions of geopolitics. He is author of Dot.compradors: Power and Policy in the Development of the Indian Software Industry (Palgrave Macmillan, 2012) and co-editor of Beyond the Developmental State: Industrial Policy into the 21st Century (Pluto Press, 2013). Other publications include academic articles for China Report, the Review of African Political Economy, Economic and Political Weekly, Third World Quarterly and Development Viewpoint as well as op-ed pieces in British Politics and Policy, Counterpunch, Open Democracy and Queries. On completion of his PhD in Economics from the University of London’s School of Oriental and African Studies (SOAS), Dr Saraswati was first appointed Lecturer in Development Studies at Queen Elizabeth House, Oxford University, before moving on to become Departmental Lecturer in Political Economy at the School of Politics and , Queen Mary University of London in 2008. He has been Professor of International Economics and International Political Economy at New York University in London since 2011.

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